This website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.

This Website Uses CookiesBy closing this message or continuing to use our site, you agree to our cookie policy. Learn MoreThis website requires certain cookies to work and uses other cookies to help you have the best experience. By visiting this website, certain cookies have already been set, which you may delete and block. By closing this message or continuing to use our site, you agree to the use of cookies. Visit our updated privacy and cookie policy to learn more.

Eastman Cancels Proposed Spin-Off

KINGSPORT, Tenn. -- Eastman Chemical Co. has cancelled its previously announced plan to spin off its specialty chemicals and plastics business. The company announced its plan for the spin-off in February 2001. J. Brian Ferguson, Eastman's chairman and CEO, said the company will continue to operate under the divisional structure put in place at the first of this year.

"Our commitment to maximize value for our shareowners has not changed, especially in these challenging times for our industry and economy," Ferguson said. "The intent of the spin-off was to separate our businesses so that each could set its own course for growth, resource allocation and strategies. The work we did internally to separate the businesses last year has allowed us to set up a divisional structure that does just that, without splitting into two publicly traded companies." he added.

Under this structure, the Voridian Division contains Eastman's Polymers Segment, which includes PET polymers and polyethylene products, and the Fibers Segment. Eastman's Coatings, Adhesives, Specialty Polymers and Inks Segment; the Specialty Plastics Segment; the Performance Chemicals and Intermediates Segment; as well as the company's strategic initiatives in less capital-intensive businesses will comprise the rest of Eastman Chemical Co.

For more information about Eastman and its products, visit www.eastman.com.

Events

The next generation of rosin esters offer excellent bonding strength, significantly light color and high stability, providing adhesive formulators with a new choice of high-performance biobased tackifiers.

The ASSEMBLY Show focuses exclusively on assembly technology, equipment, and products. Attendees have the opportunity to uncover new resources, experience equipment hands-on, evaluate the latest technologies and products, and connect face-to-face with industry experts.

Products

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.